Norway’s Telenor has announced that it is looking to break away from its Indian joint venture partner Unitech, and has begun looking for a new partner in India, reports the Economic Times. Telenor, which said it saw no future in its strategic partnership with Unitech, is seeking damages from Unitech as a result of the Supreme Court ruling that revoked the operating licences of their joint mobile venture Uninor. Telenor bought into Uninor after the concessions had been issued, and claims it had no part in the controversial licence purchases.
The Norwegian telco said in a statement that it ‘holds Unitech liable for the breach of warranties related to the cancellation of the licences’ and would be ‘seeking compensation for all investment, guarantees and damages caused by the Supreme Court order.’ Unitech returned fire with its own accusations, and mirrored the threat of litigation, saying:
‘We reserve our right to take appropriate legal action against Telenor for damages caused to Unitech Group from breach of the confidentiality obligation by Telenor.’